Bounce!

A convincing bounce in equity prices corresponded to extraordinary gains in high yield portfolios this week. Compelling evidence against a recession in the U.S. continues to mount with this week’s financial data.

Graph courtesy of Bloomberg L.P.

In fact, the case for slow and steady growth, low inflation, and continued increases in employment were made clear in this week’s Federal Reserve forecasts below. Behavior in the emerging market stocks and currencies dispel fears of a global recession.